BELARUS NEWS AND ANALYSIS

DATE:

03/08/2007

Venezuela will help Belarus pay debt to Russia

Belarus President Alexander Lukashenko said Venezuela is helping his country repay a debt to Russia on gas deliveries.

Russian state monopoly Gazprom threatened to cut most gas shipments to Belarus on failure to meet payments. This ignited fears of gas shortage in the continent, AP reported.

"Yes, we are going to repay our debt. We may empty our reserves, but our good friends, including (Venezuelan President) Hugo Chavez have vowed to grant us a loan under favorable terms," said Lukashenko.

"I instructed to withdraw the money from our reserves and pay USD 460 million, and let them live in peace," he added.

Gazprom "within one month" will be paid the bill, he said, as quoted by DPA.

In Caracas, Minister of Finance Rodrigo Cabezas said his office was not dealing with this issue, adding that "the Ministry of Foreign Affairs is handling this topic."

Source:

http://english.eluniversal.com/2007/08/03/en_eco_art_venezuela-will-help_03A910157.shtml

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